Public Markets 3 Days

Last updated: July 28, 2026, 2:30 PM ET

AI and Tech Sector Dynamics

The tech sector is seeing a dual narrative of innovation and investor caution. US tech stocks were poised to slide, tracking a rout in global semiconductor shares as concerns over artificial intelligence spending were compounded by rising competition from China. The Nasdaq 100 Index is trading near a correction as the selloff in semiconductor stocks turns ugly, with investors questioning the amount of money Big Tech is spending on artificial intelligence. This downturn in chip stocks led to a rotation out of the sector, with the Dow rallying while chip stocks slid. However, some companies are benefiting from the AI boom; chip-equipment supplier ASM International lifted its sales outlook, expecting revenue to exceed its previous 2027 target due to strong AI-fueled orders. Apple topped $5tn valuation for the first time, gaining due to its lack of huge spending on AI and as investors sought havens from the chip sector sell-off. Meanwhile, the debate over open-weight AI models continues, with new and cheaper models potentially boosting the tech sector's growth.

Corporate Dealmaking and Financing